SANTA CLARA, Calif. -- Data Domain, Inc. (NasdaqGM:DDUP - News) today announced results for its third quarter ended September 30, 2007. Net revenue for the third quarter of 2007 was $32.0 million, an increase of 21% from the second quarter of 2007 and an increase of 189% from the third quarter of 2006. Net revenue for the nine months ended September 30, 2007 was $78.7 million, an increase of 176% from the nine months ended September 30, 2006.
Data Domain posted a GAAP net loss for the third quarter of 2007 of $880,000, or $0.02 per share. This compares to a GAAP net loss of $1.2 million, or $0.11 per share, in the immediately preceding second quarter of 2007, and a GAAP net loss of $934,000, or $0.12 per share, in the third quarter of 2006.
Excluding the impact of stock-based compensation and related payroll taxes in all periods, the non-GAAP net income for the third quarter of 2007 was $2.6 million, or $0.04 per fully diluted share, compared to a non-GAAP net loss of $607,000, or $0.08 per share, in the third quarter of 2006.
"Data Domain's strong revenue growth in the third quarter reinforces the continuing demand for our industry-leading technology and the rapid expansion of our market," commented Frank Slootman, president and chief executive officer of Data Domain. "During the past quarter, Data Domain added approximately 228 new customers, bringing its cumulative customer count to approximately 1,200 worldwide since it first began shipping its Enterprise Protection Storage systems in 2004."
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